Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 5.5%

Fulgent Genetics, Inc. (NASDAQ:FLGT) shot up 5.5% on Monday . The stock traded as high as $22.68 and last traded at $22.68. 30,821 shares changed hands during trading, a decline of 84% from the average session volume of 198,101 shares. The stock had previously closed at $21.50.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective on shares of Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th.

Fulgent Genetics Price Performance

The firm has a market capitalization of $636.48 million, a price-to-earnings ratio of -3.82 and a beta of 1.43. The business’s 50 day moving average price is $21.58 and its 200-day moving average price is $24.89.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.61. The company had revenue of $70.51 million during the quarter, compared to analysts’ expectations of $67.14 million. Fulgent Genetics had a negative net margin of 57.72% and a negative return on equity of 2.92%. As a group, analysts expect that Fulgent Genetics, Inc. will post -2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mutual Advisors LLC raised its holdings in Fulgent Genetics by 5.2% in the 3rd quarter. Mutual Advisors LLC now owns 9,370 shares of the company’s stock valued at $251,000 after acquiring an additional 462 shares during the last quarter. Covestor Ltd raised its stake in shares of Fulgent Genetics by 48.0% during the third quarter. Covestor Ltd now owns 1,508 shares of the company’s stock valued at $40,000 after purchasing an additional 489 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Fulgent Genetics by 6.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 10,377 shares of the company’s stock worth $277,000 after acquiring an additional 647 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Fulgent Genetics by 5.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 12,534 shares of the company’s stock worth $362,000 after buying an additional 668 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Fulgent Genetics by 7.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,572 shares of the company’s stock valued at $283,000 after buying an additional 693 shares during the period. 48.06% of the stock is currently owned by institutional investors and hedge funds.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.